Equipment Check:
Looking at the 3 most noticeable ETFs within healthcare, and where they represent the space, shows some interesting action. Today we will take a look at the medical equipment group with the IHI recording a big break Thursday above a double bottom formation. The fund is higher by 8% YTD and 34% over the last one period, compared to the XBI and XLV which are down 5 and up 10% thus far in 2021. DHR was in the news responding nicely to buying Aldevron, was acting well before today’s jump, and now trades just 1% off most recent all time highs. RMD is higher by more than 16% the last couple weeks and has lost ground just twice in the month of June so far. STE is having some issues with the very round 200 number here, and its rising 50 day SMA. A break above puts a future add on buy point through a 216.84 cup base pivot. ISRG is quickly approaching the very round 900 number, and a cup base trigger of 893.89. The equipment, if one seeks leaders, looks sturdy at the moment.